Gold and Silver Prices Drop on MCX
At 9:32 am on Monday, MCX Gold December futures dropped by 0.78% to ₹1,22,490 per 10 grams, while MCX Silver December contracts declined 1.07% to ₹1,45,898 per kg. Data from the Indian Bullion and Jewellers Association (IBJA) showed that 24-carat gold was priced at ₹1,22,590 per 10 grams, while 22-carat gold stood at ₹1,12,374 per 10 grams. Silver (999 Fine) was priced at ₹1,46,380 per kg.
City-Wise Gold and Silver Prices on October 27
Gold and silver rates varied slightly across cities, with minor differences between MCX and bullion prices.
- Mumbai: Gold ₹1,21,960/10 gm | Silver ₹1,45,540/kg
- Delhi: Gold ₹1,21,790/10 gm | Silver ₹1,45,330/kg
- Kolkata: Gold ₹1,21,840/10 gm | Silver ₹1,45,390/kg
- Chennai: Gold ₹1,22,440/10 gm | Silver ₹1,46,240/kg
- Hyderabad: Gold ₹1,22,280/10 gm | Silver ₹1,46,050/kg
- Bengaluru: Gold ₹1,22,180/10 gm | Silver ₹1,45,930/kg
- Ahmedabad: Gold ₹1,22,160/10 gm | Silver ₹1,45,770/kg
Gold’s Long-Term Performance
Over the past two decades, gold has proven to be a strong performer, with prices soaring nearly 1,200% from ₹7,638 per 10 grams in 2005 to more than ₹1,25,000 in 2025. The precious metal has delivered positive returns in 16 out of the past 20 years. Year-to-date (YTD), gold prices have risen by 56%, making it one of the top-performing asset classes in 2025.
Retail Buyers: Important Note
Retail buyers must remember that final jewellery prices can vary, as jewellers add making charges, GST, and taxes to the base rate. These additional costs depend on the purity, design, and brand of the jewellery.
